“We have completed the first year of our transformation plan and these capital management initiatives will provide a foundation from which the Group will continue to deliver the priorities in our strategic plan,” said Morrice.

Shares in Metcash have gone down $1.17, marking a 14 year low for the company.

Metcash reported their Underlying Earnings Before Interests and Taxes (EBIT) for the 2015 fiscal year will be between $315 million to $330 million.